Riot Platforms buys another 1 million Bitfarms shares, increasing ownership stake to 18.9%

In July, Riot nominated three independent directors to the Bitfarms board to replace Bonta, among others. Bitfarms had set Oct. 29 as the date for a special meeting of its shareholders to vote on reconstituting its board of directors following Riot Platforms’ requisition for the meeting on June 24.

Last week, Bitfarms reported a net loss of $27 million, or a 7-cent loss per basic and diluted share. For its part, Riot booked a net loss of $84.4 million in the second quarter, compared to a net loss of $27.4 million in the same period last year, according to its latest quarterly report.